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Buffett Interview on CNBC


Parsad
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Here are the CNBC interviews and transcripts:

 

Part I:    http://www.cnbc.com/id/46541258/

 

Part II:  http://www.cnbc.com/id/46541556/

 

Part III:  http://www.cnbc.com/id/46543484/

 

Part IV:  http://www.cnbc.com/id/46543864/

 

Part V:    http://www.cnbc.com/id/46544371/

 

Part VI:  http://www.cnbc.com/id/46544809/

 

Part VII:  http://www.cnbc.com/id/46546596/

 

Part VIII: http://www.cnbc.com/id/46546992/

 

Cheers!

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That Joe guy is so retarded that he almost ruins any part of the interview where he speaks up. Too bad.

 

Couldn't agree more. I even find Joe's mannerisms and voice annoying, not to mention the actual content of his questions and comments. It's a mystery how he has managed to hang on as a host on the show. Luckily both Becky Quick and Andrew Ross Sorkin are pretty good, in my opinion.

 

I thought it was a very good interview overall, even if a lot of it was spent talking about taxes. Interesting that Buffett thinks American banks are in their best shape ever, although ROEs going forward will be less than the historical numbers. Apparently he has continued to buy WFC in Q1 2012.

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I thought it was a very good interview overall, even if a lot of it was spent talking about taxes. Interesting that Buffett thinks American banks are in their best shape ever, although ROEs going forward will be less than the historical numbers. Apparently he has continued to buy WFC in Q1 2012.

 

Check part 5, 6: BAC, WFC, IBM, JPM

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That Joe guy is so retarded that he almost ruins any part of the interview where he speaks up. Too bad.

 

Yup, he's pretty stupid and annoying.  Pretty bad rug too!  ;D  Cheers!

 

I think Buffett (part 6) tells him that he (Buffett) is sitting in the fertilizer factory (presumably Joe's show).

 

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Thanks Farnamstreet!

 

BUFFETT: He was in his early 20s. He was a big admirer of Bob Noyce's, and Bob was connected there. And so I saw him just a few times over time, but he called me — he did call me a couple of years ago. It was an interesting conversation because I hadn't talked to him for a long time, and he said `We've got all this cash, Warren,' and he says, `what should we do with it?' So we went over the alternatives, and it was kind of interesting.

 

BECKY: What were the alternatives that you laid out? Stock buybacks, dividends?

 

BUFFETT: There's only four things you could do.

 

BECKY: Stock buybacks, dividends, acquisitions? What am I forgetting?

 

BUFFETT: And sitting with it.

 

BECKY: And sitting with it.

 

BUFFETT: And sitting with it, and he had many, many, many, many billions. And I said — I went through the logic of each thing. Now, the — he told me they would not have the chance to make big acquisitions that required lots of money. I mean, they were internally, and that's exactly what they should be. And then I asked him the question, I said, you know, `I would use it for acquisitions if I thought my stock was undervalued.' I mean, `I would use it for repurchases if I thought my stock was undervalued.' And I said how do you feel about that? Stock was around 200 and something. He said, `I think our stock's really undervalued.' I said, `Well, you know, what better can you do with your money?' And then we talked a while, and he didn't do anything. And, of course, he didn't want to do anything. He just liked having the cash. It was very interesting to me because I later learned that he said that I agreed with him to do nothing with the cash. But he just didn't want to — he didn't want to repurchase stocks, although he absolutely thought his stock was significantly underpriced at 200 and whatever it was.

 

BECKY: Well, he was right, it's over 500.

 

BUFFETT: Yeah. I said, look, you can buy dollar bills for 80 cents or 70 cents and you know the dollar bill. I mean, it's not a counterfeit, it's your dollar bill. I said go to it, and the truth was he didn't. He just didn't want to repurchase stock. But he was certainly right about his stock being undervalued.

 

 

Brrrr...  Jobs and his Ego, two very good pals...  :-X

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